Elior Group SA (ENXTPA:ELIOR) entered into a memorandum of understanding to acquire Derichebourg Multiservices SAS from Derichebourg SA (ENXTPA:DBG) for an enterprise value of ?453 million on December 19, 2022. Elior Group SA signd an investment agreement to acquire Derichebourg Multiservices SAS on March 6, 2023. Following the completion of the transaction, Derichebourg?s shareholding in Elior will increase to 48.4%. Derichebourg Multiservices recorded revenues of ?943 million and EBITDA of ?49 million for the year ended September 2022. Daniel Derichebourg would become Elior Group Chairman & Chief Executive Officer, while remaining chairman of Derichebourg. Abderaman El Aoufir would be appointed Derichebourg Chief Executive officer. The transaction is subject to the receipt of approvals from the relevant regulatory authorities, the satisfaction of customary conditions for this type of transaction and the approval of Elior Group?s shareholders at an Extraordinary General Meeting as well as the receipt of an exemption from the AMF for the filing of a public tender offer. The transaction is subject to approval from anti-trust authorities. The transaction has been approved unanimously by the board of directors of Elior Group and Derichebourg SA. As of March 6, 2023, The shareholders' meeting scheduled to approve transaction on April 18, 2023. Derichebourg has also committed to a five-year standstill on its stake. As of March 28, 2023, European commission has approved the merger. As of April 18, 2023 the shareholders of Elior Group have approved the transaction. The transaction is expected to fully close during April-May of 2023.As on April 25, 2023 80.156782 new shares were issued as part of consideration for the contribution in kind, made by Derichebourg SA. Morgan Stanley & Co and Crédit Agricole Corporate and Investment Bank are acting as financial advisors to Elior Group and Alain Maillot, Hugo Diener and Alexandre Durand of Darrois Villey Maillot Brochier and Actance are acting as legal advisors. Rothschild & Co is acting as financial advisor to the Board of Directors of Elior Group to whom it will deliver, when convening the EGM, a fairness opinion from a financial point of view to Elior Group regarding the consideration payable for the contribution of DMS. BNP Paribas SA (ENXTPA:BNP) and Centerview Partners acted as financial advisors to Derichebourg. Jérôme Roustit, Didier Fornoni, Eric Quentin and Sophie Dechaumet of Hoche Société d'Avocats acted as legal advisors to Derichebourg.

Elior Group SA (ENXTPA:ELIOR) completed the acquisition of Derichebourg Multiservices SAS from Derichebourg SA (ENXTPA:DBG) on April 18, 2023.